Crude, Gasoline Draw Props up Oil Prices ...Middle East

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Crude, Gasoline Draw Props up Oil Prices
source : OILPRICE ( Middle East ) () 57
U.S. crude oil inventories fell by 3.169 million barrels in the week ending July 18, the Energy Information Administration (EIA) reported on Wednesday, broadly confirming the earlier API estimate but with a steeper decline. Analysts had expected a more modest draw, reinforcing signs of strong refining activity and steady demand amid peak summer travel. Inventories at the Cushing, Oklahoma delivery hub rose by 455,000 barrels, signaling a slight increase in storage at the critical NYMEX WTI settlement point. Gasoline stocks also fell by 1.738 million…

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